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The Trump Economy: Seven ‘Broken Promises’ To Working Americans

Published Thursday, February 6, 2020
by Ryan Zamarripa/ & Seth Hanlon/www.americanprogressaction.org
The Trump Economy: Seven ‘Broken Promises’ To Working Americans

(WASHINGTON, D.C.) - In 2016, Donald Trump vowed to champion forgotten Americans and take on the entrenched interests that he blamed for hollowing out the Middle Class.

He categorically promised “no cuts to Social Security, Medicare & Medicaid” and he said he would stop Wall Street from “getting away with murder,” end the outsourcing of American jobs, insure everyone with lower health care costs and close tax loopholes for people like himself and to focus tax relief on the Middle Class.

Trump also promised to “drain the swamp” in Washington.

In office, however, Republican President Trump’s Administration has broken each of these promises, betraying the people he said he would fight for.

In virtually every policy sphere, his administration has favored powerful corporations and the wealthy at the expense of Middle- and Working-Class Americans.

Trump’s broken promises have had real-life consequences for American Families: Less economic security; Lower wages; More expensive health care; Greater threats to Social Security and Medicare; and a widening gap between Working Americans and the wealthy and powerful.

Here are seven ways the Trump Administration has broken his core economic promises and how they have let down ordinary Americans:

  1. The Trump Administration Has Tried To Take Away Health Care After Promising To Fix It: Trump promised to cover everyone and make health care affordable. Instead, his administration has waged a relentless assault on Americans’ health care, driving up costs and leaving more people uninsured.  After coming up one vote short of repealing the Affordable Care Act (ACA) in Congress, the administration has sought to repeal the law through the courtsthrowing the Federal Government’s weight behind a lawsuit seeking to strike down the entire ACA.  The lawsuit has been called “absurd” and “ludicrous” by diverse legal experts, but in December 2018, a Trump-appointed District Judge agreed with it.  His ruling was stayed, but the lawsuit continues and will likely be resolved by the end of the year. If the Trump Administration were to prevail in repealing the ACA: Nearly 20 million Americans would lose health insurance coverage, resulting in a 65% jump in the number of uninsured; and some 130 million Americans with pre-existing conditions would lose critical protections. The demand for uncompensated care - or the unreimbursed services provided by hospitals and health care providers that are paid for by Federal, State or Local Government Programs or by health care providers - would increase each year by $50 billion, putting intense strain on rural hospitals and other providers and 12 million seniors would be forced to pay more for prescription drugs.  And, people under the age of 26 would no longer be entitled to stay on their parents’ plan.  In addition, preventative services for women, such as breast cancer screenings, domestic violence counseling and pregnancy check-ins, could lose their status as “free of cost sharing” and become additional financial burdens for women.  Trump also said he would “get drug prices so far lower than they are right now,” specifically promising to allow Medicare to negotiate drug prices.  But in office, he has threatened to veto a House-passed Bill that could lower the cost of 250 of the most expensive drugs.
  2. The Trump Administration ‘Pushed Through A Tax Plan Favoring The Wealthy And Corporations After Promising To Help The Middle Class:’ In 2016, President Trump said that under his tax plan: “No one will gain more from tax cuts than Low- and Middle-Income Americans.” He promised to close tax loopholes for people like him, claiming that his Tax Bill would “cost me a fortune.”  Likewise, Treasury Secretary Steven Mnuchin promised “no absolute tax cut for the Upper Class.”

To Continue Reading This Labor News Story, Go To: www.americanprogressaction.org/issues/economy/news/2020/02/03/176535/trumps-economy-7-broken-promises-working-americans/?fbclid=IwAR0KDFT-Kk9bbTAYXFjpP9KgWd0PM8B4-9C0KhgHBa_UNs47Qpx8mDhJ548

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